Why did RBI direct HDFC bank to stop its Digital Launches?

The Reserve Bank of India recently asked the HDFC bank to temporarily stop all its launches under its Digital 2.0 programme. Why did RBI take action against HDFC bank? The RBI issued the order with regard to outrages against the bank. The order were issued with regard to incidents of outrages in mobile banking, internet ..

Month: Current Affairs - December, 2020

Category: Economy & Banking Current Affairs

Topics: Artificial Intelligence (AI) • Banking • Banking Regulation Act • HDFC • Reserve Bank of India (RBI)

IFSC submits its report on Capital Market to IFSCA

IFSC International Retail Business Development Committee has presented its final report to IFSCA on November 11. The final report has recommendations on Capital Markets. The committee also made recommendations for the development of IFSC. Before this, the committee has submitted two interim reports on insurance and banking. This IFSC International Retail Business Development Committee was ..

Month: Current Affairs - November, 2020

Category: Reports & Indexes Current Affairs

Topics: Banking • Foreign Portfolio Investors • Government Securities • IFSC • IFSCA • Insurance

IFSCA approves draft banking regulations at IFSC

International Financial Services Centres Authority (IFSCA) conducted a meeting on November 11 in New Delhi. The IFSC Authority approved the International Financial Services Centres Authority (Banking) Regulations, 2020 in the meeting. The draft banking regulations approved at the meeting opens the way for making rules for the various aspects of banking operations that would be ..

Month: Current Affairs - November, 2020

Category: Economy & Banking Current Affairs

Topics: Banking • IFSC • IFSCA • Reserve Bank of India • SEBI

RBI sets up P K Mohanty Panel to Review Ownership of Private Banks

On June 12, 2020, the Reserve Bank of India has constituted an internal working group. The working group is to review guidelines of ownership of private sector banks. Highlights The panel constituted by the apex bank is to examine regulations to hold financial subsidiaries through non-operative financial holding company. The group is to be headed ..

Month: Current Affairs - June, 2020

Category: Economy & Banking Current Affairs

Topics: Banking • Banking Governance • NBFC • Public Sector Banks (PSBs) • RBI Board • Reserve Bank of India (RBI)

Banking Services made Public Utility Services

The Government of India has declared banking industry as public utility service till October 21. The order has been issued under provisions of Industrial Disputes Act. Highlights The banking services have been brought under the Industrial Disputed Act in order to prevent strikes by the employees of banking sector. The order has been passed by ..

Month: Current Affairs - April, 2020

Category: Economy & Banking Current Affairs

Topics: Bank Mergers • Banking • Industrial Disputes Act • labour laws • Public Service • public utility services • Reserve Bank of India (RBI)